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Smart Ways To Boost Business Profits With These Productivity Hacks

1 April 2020 No Comment

There are some fascinating misconceptions about productivity that could have a direct impact on your profit, and you might not even be aware of them. For instance, an open-office layout may seem more open and inviting, but studies reveal that this layout results in a 32% drop in well-being and a 15% reduction in productivity. For businesses, this tiny drop in productivity can mean the difference between a profit or loss. Productivity is, therefore, a catapult for maximized profit.

Increase Your Employee Engagement 

Employee engagement is by far the most underrated tool of boosting productivity. While on-site facilities and chill zones may seem like a good place to start, employees want to know that the company they work for cares about them. This means being taken care of where it matters: access to company benefits and incentives. It’s also important that employees have an opportunity to grow and learn and that their accomplishments are acknowledged. Organizations that can provide a platform for employees to live out their purpose and connect on a personal level with the brand.

Closing The Gaps Effortlessly 

For businesses, improving their workflow is a simple way to improve productivity. It’s far easier for an employee to be productive when they know what the parameters of their role are. While this includes setting up a production flowchart, it also means establishing the timeslots for each task. Time tracking is an effective way to measure whether employees are equipped to do their jobs and whether they need further support or training to complete the tasks within these timeslots. Time tracking will also alert companies whether the given time slots are reasonable, or whether there are other inefficiencies in their production flow that could slow down the time it takes to perform tasks.

Empowering Employees To Feel Vested 

There is no one who would work as hard as you do on your business unless you allow your employees to become more vested in the business. For larger companies, this could mean issuing shares to employees. Another way is to include employees during the goal-setting phase to allow them insight into what is needed to get the business to the next level. Employees who have a hand in the vision for the business, are far more likely to work hard towards achieving those goals.

For businesses, productivity and profitability go hand in hand. However, setting up measures to improve productivity without engaging staff may end up being a fruitless pursuit.

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